Well, at least you make a somewhat reasonable argument. But the bottom line is that the State should regulate rates to ensure that carriers charge enough premium to cover their potential losses. Florida's regulatory enviornment is awful. Politicians have replaced actuaries. Insurance is a hyper-competitive industry. Rates should not be so heavily regulated. State Farm is the last in a long line of A rated national carriers that have left after being abused by the insurance commisioner and the compliant left leaning media.<quoted text>
Look. I understand what you are saying. And I would even agree there are alternatives to SFs move. But I disagree that this situation doesn't merit evidence, credible documentation, proving SFs request. Projections modeled in favor of SF, ambiguous documents that claim losses for so called undisclosed discounts or advertising for programs not sold in the state just don't cut it.
It is not nonsense to want accountability. Isn't that why SF wants the increase in the first place? At the same time, SF isn't willing to be held accountable with clear, legal proof. I, for one, don't blame the state for that.
So, we rely on the State (Citizens Insurance) which proves that if you replace evil private profit seeking companies, with a governmental agency, prices go up, and losses mount.
By the way, the insurance crisis is over. Rates have been dropping like a stone for the last 1.5 years. It's time to get hysterical about something else.